Interesting post by Engram discussing the recent performance of the UK economy. He includes additional commentary on the medias coverage of course. But it is interesting to see the UK versus EU performances.
http://engram-backtalk.blogspot.com/...s-economy.html
Quote:
I've long been interested in the astronomical disconnect between the anemic state of the American economy as portrayed by mainstream media reporters and its factual status as the strongest economy on earth. My interest in this bizarre phenomenon is not based on a strong belief that George Bush's economic policies are superior to the policies advocated by the Democrats (that is a separate issue and a separate debate). My point is simply that reporters are dead wrong to believe that our economy is weak relative to its past performance or relative to the performance of the European socialist welfare states (like France and Germany and Italy).
In all my prior comparisons involving the advanced industrialized nations of Europe, one European country has stood out as being more economically competitive than the others. That country is the United Kingdom. Why might that be? The answer is that the UK converted to an economic model much like the one that applies in the US. The story is summarized in a book that a reader drew to my attention some time ago. The book, published in 2004 and edited by David Card, Richard Blundell and Richard B. Freeman, is called "Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000." Here is a little of what they have to say:
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